MANILA, Philippines. – The Jollibee Group has once again been awarded with a 1-Golden Arrow Recognition from the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards, acknowledging the company’s success in responsible and transparent business practices.Organized by the Institute of Corporate Directors (ICD), the award recognizes the top Philippine publicly listed companies in corporate governance based on the ACGS.
“Getting cited again by the ASEAN ACGS validates our dedication to integrity, accountability, and transparency, ensuring that we conduct business ethically as an organization,” said Ernesto Tanmantiong, Jollibee Group President and CEO. “This is also consistent with our commitment to strong ESG practices that are aligned with our Joy for Tomorrow Global Sustainability Agenda, in which our business success is closely linked with our ability to create a beneficial influence on both society and the planet.”
According to ICD, the Golden Arrow is awarded to companies that achieved a score of at least eighty points in the ACGS Assessment, which means the company has exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS.
It measures the performance of companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability thru timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.
The scorecard is composed of 184 questions based on publicly available disclosures on the companies’ websites. It aims to raise the corporate governance standards and practices of the country and to make well-governed Philippine publicly listed companies attractive to investors.